TD Asset Management Inc. Increases Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

TD Asset Management Inc. lifted its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,764,429 shares of the business services provider’s stock after acquiring an additional 516,605 shares during the period. TD Asset Management Inc. owned 1.06% of Thomson Reuters worth $764,654,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TRI. Decker Retirement Planning Inc. purchased a new position in shares of Thomson Reuters in the 4th quarter valued at $26,000. Curio Wealth LLC purchased a new position in Thomson Reuters in the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Thomson Reuters during the fourth quarter worth about $27,000. Noble Wealth Management PBC purchased a new stake in shares of Thomson Reuters in the fourth quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Thomson Reuters by 60.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 361 shares of the business services provider’s stock valued at $58,000 after buying an additional 136 shares in the last quarter. 17.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on TRI shares. CIBC boosted their price target on Thomson Reuters from $165.00 to $174.00 in a research report on Friday, February 7th. The Goldman Sachs Group upped their target price on shares of Thomson Reuters from $168.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price target on shares of Thomson Reuters from $165.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Canaccord Genuity Group upped their price objective on shares of Thomson Reuters from $164.00 to $175.00 and gave the company a “hold” rating in a research report on Friday, February 7th. Finally, Scotiabank lifted their target price on Thomson Reuters from $187.00 to $188.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.56.

Thomson Reuters Price Performance

TRI opened at $171.57 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. Thomson Reuters Co. has a 1-year low of $149.50 and a 1-year high of $180.42. The company has a 50-day moving average of $171.11 and a 200-day moving average of $167.84. The company has a market capitalization of $77.28 billion, a P/E ratio of 35.09, a PEG ratio of 5.67 and a beta of 0.70.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%. Equities analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Thursday, February 20th were issued a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, February 20th. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.54. Thomson Reuters’s payout ratio is currently 48.67%.

Thomson Reuters Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.